January 23, 2014 Navigo Financial Proven Capability Team of - - PowerPoint PPT Presentation
January 23, 2014 Navigo Financial Proven Capability Team of Specialists Financial Coach for Tax Corporations Investments Business Owners Risk Individuals Living Benefits Proven Track Record Employee
Financial Coach for
Corporations Business Owners Individuals
Proven Track Record
28+ years financial
Proven Capability Team of Specialists
Tax Investments Risk Living Benefits Employee Benefits Group
Depth & Breadth of
National Coverage
1.
2.
3.
Return on Investment Market Share
Driving Forces Restraining Forces
Attract & Retain Talent Minimize loss of Productivity Focus on Core Business Minimize Risk The Right Plan Healthy Workforce The Right Advice Industry Knowledge
Accidental death &
We insure our homes and our vehicles. Why not our income?
Public 70% Private 30%
Canadian Health Spend 1
1. Globe & Mail, May14 2013 30% private was $62 billion in 2012 $5 billion out of our own pockets Majority of these costs borne by business Does not include social impact – productivity lost
Public 44% Private 56%
Drug Costs 1
1. Global News July 19, 2013
The amount spent on health benefits is continuing to increase because more plan members are using the plan, more frequently and for more expensive benefits
Source: Great-West Life
TRENDS – HEALTH
2001 2011 Percent Claiming Average Cost Plan Cost (Per Employee) Percent Claiming Average Cost Plan Cost (Per Employee) Age 27 69% $548 $376 78% $1,061 $823 Age 42 79% $1,064 $845 89% $2,087 $1,860 Age 57 85% $1,698 $1,444 92% $2,725 $2,508 Age 72 81% $1,203 $977 89% $2,185 $1,946 Overall 78% $1,176 $919 88% $2,246 $1,985
Low interest rates Increased usage Ageing demographics & new
No retirement age Government delisting services Inflation – increased costs
Carriers are building strategic partnerships
With pharmacies – Costco and Shoppers Drug Mart With service providers
Carriers have more health care professionals on
Nurses, doctors and pharmacists
Organizational education Plan Design
Co-pay = informed consumers Catastrophic drug coverage Annual maximums in place
Organizational wellness focus and initiatives
Leadership Role from Stakeholders as Agent of Health and
Wellness Promotion is Central.
The economic benefits associated with reducing the incidence and
severity of disease is often overlooked or not well understood
The cost of treatment tends to receive most of the attention
Balance needed in assessing drug costs
More expensive can provide significantly more benefits
Private drug plans need to consider impact of drugs on labour force
This includes workplace productivity and disability Public drug assessment authorities consider other factors Efforts needed to increase patient adherence
Be a promoter and leader Have an Employee Assistance Program Sponsor a health program
Weight loss challenge Walking challenge Healthy pot luck lunch days
Reduces health, disability, and WSIB costs Disability and related costs for mental illness have been
Health)
EAP can help shorten the duration of STD claims – on
The typical ROI is $3 or more for every $1 invested in an
Reduce People Leader Stress and Burnout 30% to 42% of People Leaders time is spent dealing with employee
(Managers as Negotiators, Leadership Quarterly)
3 drug categories – acute, maintenance & specialty 80% of the cost is Maintenance
Majority fall under “cardio” & diabetes, Rheumatoid Arthritis also large
contributor
High cholesterol, high blood pressure, high blood sugar all impacted by
lifestyle
Exercise is key
View and share “23.5 hours” by Dr. Mike Evans
Knee Arthritis
Dementia & Alzheimer
Diabetes
Hip Fractures in post menopausal women
Anxiety
Depression
Took back control - union benefit plan Minor plan enhancements, nothing taken away Quarterly reporting now in place
Changed carriers from retail to wholesale Incorporated aggressive pricing Introduced diversified fund line up Implemented effective communication Education - group and one on one sessions
Management Fees
managers
guidelines
choices
functionality
reporting
Example of impact on one members portfolio using similar funds as of Dec 31, 2013 Target Risk Fund Alto Aggressive Canada Focus Fund Aggressive Continuum Fund 1 year return 15.07% 25.52% Management Expense Ratio 3.05% 1.38% Net Return to member 12.02% 24.14% Difference in net rate of return 12.12% Dividend IG Dividend Fund Dividend Fund GWLIM 1 year return 16.04% 18.24% Management Expense Ratio 2.93% 1.12% Net Return to member 13.11% 17.12% Difference in net rate of return 4.01%
RETAIL WHOLESALE